Econ Unit 2 Review

Econ Unit 2 Review

9th - 12th Grade

•

43 Qs

quiz-placeholder

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Econ Unit 2 Review

Econ Unit 2 Review

Assessment

Quiz

•

Other

•

9th - 12th Grade

•

Easy

Created by

Kendrick Thompson

Used 43+ times

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43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which option accurately identifies two characteristics of a command economy?

centrally-planned, driven by profit motive

central ownership of property, lack of consumer choice

competition between sellers, central ownership of resources

centrally-planned,high degree of consumer sovereignty

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which type of economy has private property, consumer sovereignty, individual choice, profit, and no government involvement?

traditional economy
command economy
free market economy
mixed economy

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is most commonly a role of the government in the United States economy?

setting prices for goods

requiring factories to produce certain goods

determining where citizens may work

creating laws to ensure the safety of consumers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Inuit in northern Alaska and Canada are examples of this type of economy

traditional

command

mixed

market

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The former USSR, North Korea, and Cuba are close examples of

traditional economies

market economies

command economies

mixed economies

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are the three basic questions all economies must answer?

What to produce, how to produce, for whom to produce

Why to produce, where to produce and for whom

What to produce, how to produce, where to produce

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

There are four types of economic systems. All economies are _____.

Traditional

Command

Market

Mixed

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